Why is a lender quoting a different monthly payment?

Usually because the quote includes or excludes something this does not: fees added to the balance, insurance, or a different day-count convention. Compare like with like by checking whether the quote is principal and interest only.

Is a larger deposit or a shorter term better?

They do different things. A larger deposit reduces the balance interest is charged on; a shorter term raises the monthly payment and cuts total interest sharply. Model both here and weigh the monthly figure you can sustain against the total cost.

Does it work for a mortgage in Germany?

Partly. It calculates a fixed-rate annuity repaid in full over the term you enter, while German loans are often quoted as an interest rate plus an initial repayment rate, with the rate fixed for a shorter period than the full loan. Enter the term you expect, leave property tax, HOA and PMI at zero if they do not apply, and treat the result as an estimate.

Mortgage Calculator

Estimate a monthly mortgage payment from price, deposit, rate and term, and add taxes and insurance to see the figure that actually leaves your account.

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2,078.74 per month

1,678.74 principal and interest + 400.00 other costs

Total monthly payment2,078.74

Principal and interest1,678.74on 280,000.00 borrowed

Loan-to-value80%down payment 70,000.00

Total interest324,347.80over 360 months

Monthly payment components
Component	Per month
Principal and interest	1,678.74
Property tax	300.00
Home insurance	100.00
HOA / service charge	0.00
Mortgage insurance (PMI)	0.00
Total	2,078.74

Amortization schedule
Month	Payment	Interest	Principal	Balance
1	1,678.74	1,400.00	278.74	279,721.26
2	1,678.74	1,398.61	280.13	279,441.13
3	1,678.74	1,397.21	281.53	279,159.60
4	1,678.74	1,395.80	282.94	278,876.66
5	1,678.74	1,394.38	284.36	278,592.30
6	1,678.74	1,392.96	285.78	278,306.52
7	1,678.74	1,391.53	287.21	278,019.31
8	1,678.74	1,390.10	288.64	277,730.67
9	1,678.74	1,388.65	290.09	277,440.58
10	1,678.74	1,387.20	291.54	277,149.04
11	1,678.74	1,385.75	292.99	276,856.05
12	1,678.74	1,384.28	294.46	276,561.59
13	1,678.74	1,382.81	295.93	276,265.66
14	1,678.74	1,381.33	297.41	275,968.25
15	1,678.74	1,379.84	298.90	275,669.35
16	1,678.74	1,378.35	300.39	275,368.96
17	1,678.74	1,376.84	301.90	275,067.06
18	1,678.74	1,375.34	303.40	274,763.66
19	1,678.74	1,373.82	304.92	274,458.74
20	1,678.74	1,372.29	306.45	274,152.29
21	1,678.74	1,370.76	307.98	273,844.31
22	1,678.74	1,369.22	309.52	273,534.79
23	1,678.74	1,367.67	311.07	273,223.72
24	1,678.74	1,366.12	312.62	272,911.10
25	1,678.74	1,364.56	314.18	272,596.92
26	1,678.74	1,362.98	315.76	272,281.16
27	1,678.74	1,361.41	317.33	271,963.83
28	1,678.74	1,359.82	318.92	271,644.91
29	1,678.74	1,358.22	320.52	271,324.39
30	1,678.74	1,356.62	322.12	271,002.27
31	1,678.74	1,355.01	323.73	270,678.54
32	1,678.74	1,353.39	325.35	270,353.19
33	1,678.74	1,351.77	326.97	270,026.22
34	1,678.74	1,350.13	328.61	269,697.61
35	1,678.74	1,348.49	330.25	269,367.36
36	1,678.74	1,346.84	331.90	269,035.46
37	1,678.74	1,345.18	333.56	268,701.90
38	1,678.74	1,343.51	335.23	268,366.67
39	1,678.74	1,341.83	336.91	268,029.76
40	1,678.74	1,340.15	338.59	267,691.17
41	1,678.74	1,338.46	340.28	267,350.89
42	1,678.74	1,336.75	341.99	267,008.90
43	1,678.74	1,335.04	343.70	266,665.20
44	1,678.74	1,333.33	345.41	266,319.79
45	1,678.74	1,331.60	347.14	265,972.65
46	1,678.74	1,329.86	348.88	265,623.77
47	1,678.74	1,328.12	350.62	265,273.15
48	1,678.74	1,326.37	352.37	264,920.78
49	1,678.74	1,324.60	354.14	264,566.64
50	1,678.74	1,322.83	355.91	264,210.73
51	1,678.74	1,321.05	357.69	263,853.04
52	1,678.74	1,319.27	359.47	263,493.57
53	1,678.74	1,317.47	361.27	263,132.30
54	1,678.74	1,315.66	363.08	262,769.22
55	1,678.74	1,313.85	364.89	262,404.33
56	1,678.74	1,312.02	366.72	262,037.61
57	1,678.74	1,310.19	368.55	261,669.06
58	1,678.74	1,308.35	370.39	261,298.67
59	1,678.74	1,306.49	372.25	260,926.42
60	1,678.74	1,304.63	374.11	260,552.31
61	1,678.74	1,302.76	375.98	260,176.33
62	1,678.74	1,300.88	377.86	259,798.47
63	1,678.74	1,298.99	379.75	259,418.72
64	1,678.74	1,297.09	381.65	259,037.07
65	1,678.74	1,295.19	383.55	258,653.52
66	1,678.74	1,293.27	385.47	258,268.05
67	1,678.74	1,291.34	387.40	257,880.65
68	1,678.74	1,289.40	389.34	257,491.31
69	1,678.74	1,287.46	391.28	257,100.03
70	1,678.74	1,285.50	393.24	256,706.79
71	1,678.74	1,283.53	395.21	256,311.58
72	1,678.74	1,281.56	397.18	255,914.40
73	1,678.74	1,279.57	399.17	255,515.23
74	1,678.74	1,277.58	401.16	255,114.07
75	1,678.74	1,275.57	403.17	254,710.90
76	1,678.74	1,273.55	405.19	254,305.71
77	1,678.74	1,271.53	407.21	253,898.50
78	1,678.74	1,269.49	409.25	253,489.25
79	1,678.74	1,267.45	411.29	253,077.96
80	1,678.74	1,265.39	413.35	252,664.61
81	1,678.74	1,263.32	415.42	252,249.19
82	1,678.74	1,261.25	417.49	251,831.70
83	1,678.74	1,259.16	419.58	251,412.12
84	1,678.74	1,257.06	421.68	250,990.44
85	1,678.74	1,254.95	423.79	250,566.65
86	1,678.74	1,252.83	425.91	250,140.74
87	1,678.74	1,250.70	428.04	249,712.70
88	1,678.74	1,248.56	430.18	249,282.52
89	1,678.74	1,246.41	432.33	248,850.19
90	1,678.74	1,244.25	434.49	248,415.70
91	1,678.74	1,242.08	436.66	247,979.04
92	1,678.74	1,239.90	438.84	247,540.20
93	1,678.74	1,237.70	441.04	247,099.16
94	1,678.74	1,235.50	443.24	246,655.92
95	1,678.74	1,233.28	445.46	246,210.46
96	1,678.74	1,231.05	447.69	245,762.77
97	1,678.74	1,228.81	449.93	245,312.84
98	1,678.74	1,226.56	452.18	244,860.66
99	1,678.74	1,224.30	454.44	244,406.22
100	1,678.74	1,222.03	456.71	243,949.51
101	1,678.74	1,219.75	458.99	243,490.52
102	1,678.74	1,217.45	461.29	243,029.23
103	1,678.74	1,215.15	463.59	242,565.64
104	1,678.74	1,212.83	465.91	242,099.73
105	1,678.74	1,210.50	468.24	241,631.49
106	1,678.74	1,208.16	470.58	241,160.91
107	1,678.74	1,205.80	472.94	240,687.97
108	1,678.74	1,203.44	475.30	240,212.67
109	1,678.74	1,201.06	477.68	239,734.99
110	1,678.74	1,198.67	480.07	239,254.92
111	1,678.74	1,196.27	482.47	238,772.45
112	1,678.74	1,193.86	484.88	238,287.57
113	1,678.74	1,191.44	487.30	237,800.27
114	1,678.74	1,189.00	489.74	237,310.53
115	1,678.74	1,186.55	492.19	236,818.34
116	1,678.74	1,184.09	494.65	236,323.69
117	1,678.74	1,181.62	497.12	235,826.57
118	1,678.74	1,179.13	499.61	235,326.96
119	1,678.74	1,176.63	502.11	234,824.85
120	1,678.74	1,174.12	504.62	234,320.23
121	1,678.74	1,171.60	507.14	233,813.09
122	1,678.74	1,169.07	509.67	233,303.42
123	1,678.74	1,166.52	512.22	232,791.20
124	1,678.74	1,163.96	514.78	232,276.42
125	1,678.74	1,161.38	517.36	231,759.06
126	1,678.74	1,158.80	519.94	231,239.12
127	1,678.74	1,156.20	522.54	230,716.58
128	1,678.74	1,153.58	525.16	230,191.42
129	1,678.74	1,150.96	527.78	229,663.64
130	1,678.74	1,148.32	530.42	229,133.22
131	1,678.74	1,145.67	533.07	228,600.15
132	1,678.74	1,143.00	535.74	228,064.41
133	1,678.74	1,140.32	538.42	227,525.99
134	1,678.74	1,137.63	541.11	226,984.88
135	1,678.74	1,134.92	543.82	226,441.06
136	1,678.74	1,132.21	546.53	225,894.53
137	1,678.74	1,129.47	549.27	225,345.26
138	1,678.74	1,126.73	552.01	224,793.25
139	1,678.74	1,123.97	554.77	224,238.48
140	1,678.74	1,121.19	557.55	223,680.93
141	1,678.74	1,118.40	560.34	223,120.59
142	1,678.74	1,115.60	563.14	222,557.45
143	1,678.74	1,112.79	565.95	221,991.50
144	1,678.74	1,109.96	568.78	221,422.72
145	1,678.74	1,107.11	571.63	220,851.09
146	1,678.74	1,104.26	574.48	220,276.61
147	1,678.74	1,101.38	577.36	219,699.25
148	1,678.74	1,098.50	580.24	219,119.01
149	1,678.74	1,095.60	583.14	218,535.87
150	1,678.74	1,092.68	586.06	217,949.81
151	1,678.74	1,089.75	588.99	217,360.82
152	1,678.74	1,086.80	591.94	216,768.88
153	1,678.74	1,083.84	594.90	216,173.98
154	1,678.74	1,080.87	597.87	215,576.11
155	1,678.74	1,077.88	600.86	214,975.25
156	1,678.74	1,074.88	603.86	214,371.39
157	1,678.74	1,071.86	606.88	213,764.51
158	1,678.74	1,068.82	609.92	213,154.59
159	1,678.74	1,065.77	612.97	212,541.62
160	1,678.74	1,062.71	616.03	211,925.59
161	1,678.74	1,059.63	619.11	211,306.48
162	1,678.74	1,056.53	622.21	210,684.27
163	1,678.74	1,053.42	625.32	210,058.95
164	1,678.74	1,050.29	628.45	209,430.50
165	1,678.74	1,047.15	631.59	208,798.91
166	1,678.74	1,043.99	634.75	208,164.16
167	1,678.74	1,040.82	637.92	207,526.24
168	1,678.74	1,037.63	641.11	206,885.13
169	1,678.74	1,034.43	644.31	206,240.82
170	1,678.74	1,031.20	647.54	205,593.28
171	1,678.74	1,027.97	650.77	204,942.51
172	1,678.74	1,024.71	654.03	204,288.48
173	1,678.74	1,021.44	657.30	203,631.18
174	1,678.74	1,018.16	660.58	202,970.60
175	1,678.74	1,014.85	663.89	202,306.71
176	1,678.74	1,011.53	667.21	201,639.50
177	1,678.74	1,008.20	670.54	200,968.96
178	1,678.74	1,004.84	673.90	200,295.06
179	1,678.74	1,001.48	677.26	199,617.80
180	1,678.74	998.09	680.65	198,937.15
181	1,678.74	994.69	684.05	198,253.10
182	1,678.74	991.27	687.47	197,565.63
183	1,678.74	987.83	690.91	196,874.72
184	1,678.74	984.37	694.37	196,180.35
185	1,678.74	980.90	697.84	195,482.51
186	1,678.74	977.41	701.33	194,781.18
187	1,678.74	973.91	704.83	194,076.35
188	1,678.74	970.38	708.36	193,367.99
189	1,678.74	966.84	711.90	192,656.09
190	1,678.74	963.28	715.46	191,940.63
191	1,678.74	959.70	719.04	191,221.59
192	1,678.74	956.11	722.63	190,498.96
193	1,678.74	952.49	726.25	189,772.71
194	1,678.74	948.86	729.88	189,042.83
195	1,678.74	945.21	733.53	188,309.30
196	1,678.74	941.55	737.19	187,572.11
197	1,678.74	937.86	740.88	186,831.23
198	1,678.74	934.16	744.58	186,086.65
199	1,678.74	930.43	748.31	185,338.34
200	1,678.74	926.69	752.05	184,586.29
201	1,678.74	922.93	755.81	183,830.48
202	1,678.74	919.15	759.59	183,070.89
203	1,678.74	915.35	763.39	182,307.50
204	1,678.74	911.54	767.20	181,540.30
205	1,678.74	907.70	771.04	180,769.26
206	1,678.74	903.85	774.89	179,994.37
207	1,678.74	899.97	778.77	179,215.60
208	1,678.74	896.08	782.66	178,432.94
209	1,678.74	892.16	786.58	177,646.36
210	1,678.74	888.23	790.51	176,855.85
211	1,678.74	884.28	794.46	176,061.39
212	1,678.74	880.31	798.43	175,262.96
213	1,678.74	876.31	802.43	174,460.53
214	1,678.74	872.30	806.44	173,654.09
215	1,678.74	868.27	810.47	172,843.62
216	1,678.74	864.22	814.52	172,029.10
217	1,678.74	860.15	818.59	171,210.51
218	1,678.74	856.05	822.69	170,387.82
219	1,678.74	851.94	826.80	169,561.02
220	1,678.74	847.81	830.93	168,730.09
221	1,678.74	843.65	835.09	167,895.00
222	1,678.74	839.48	839.26	167,055.74
223	1,678.74	835.28	843.46	166,212.28
224	1,678.74	831.06	847.68	165,364.60
225	1,678.74	826.82	851.92	164,512.68
226	1,678.74	822.56	856.18	163,656.50
227	1,678.74	818.28	860.46	162,796.04
228	1,678.74	813.98	864.76	161,931.28
229	1,678.74	809.66	869.08	161,062.20
230	1,678.74	805.31	873.43	160,188.77
231	1,678.74	800.94	877.80	159,310.97
232	1,678.74	796.55	882.19	158,428.78
233	1,678.74	792.14	886.60	157,542.18
234	1,678.74	787.71	891.03	156,651.15
235	1,678.74	783.26	895.48	155,755.67
236	1,678.74	778.78	899.96	154,855.71
237	1,678.74	774.28	904.46	153,951.25
238	1,678.74	769.76	908.98	153,042.27
239	1,678.74	765.21	913.53	152,128.74
240	1,678.74	760.64	918.10	151,210.64
241	1,678.74	756.05	922.69	150,287.95
242	1,678.74	751.44	927.30	149,360.65
243	1,678.74	746.80	931.94	148,428.71
244	1,678.74	742.14	936.60	147,492.11
245	1,678.74	737.46	941.28	146,550.83
246	1,678.74	732.75	945.99	145,604.84
247	1,678.74	728.02	950.72	144,654.12
248	1,678.74	723.27	955.47	143,698.65
249	1,678.74	718.49	960.25	142,738.40
250	1,678.74	713.69	965.05	141,773.35
251	1,678.74	708.87	969.87	140,803.48
252	1,678.74	704.02	974.72	139,828.76
253	1,678.74	699.14	979.60	138,849.16
254	1,678.74	694.25	984.49	137,864.67
255	1,678.74	689.32	989.42	136,875.25
256	1,678.74	684.38	994.36	135,880.89
257	1,678.74	679.40	999.34	134,881.55
258	1,678.74	674.41	1,004.33	133,877.22
259	1,678.74	669.39	1,009.35	132,867.87
260	1,678.74	664.34	1,014.40	131,853.47
261	1,678.74	659.27	1,019.47	130,834.00
262	1,678.74	654.17	1,024.57	129,809.43
263	1,678.74	649.05	1,029.69	128,779.74
264	1,678.74	643.90	1,034.84	127,744.90
265	1,678.74	638.72	1,040.02	126,704.88
266	1,678.74	633.52	1,045.22	125,659.66
267	1,678.74	628.30	1,050.44	124,609.22
268	1,678.74	623.05	1,055.69	123,553.53
269	1,678.74	617.77	1,060.97	122,492.56
270	1,678.74	612.46	1,066.28	121,426.28
271	1,678.74	607.13	1,071.61	120,354.67
272	1,678.74	601.77	1,076.97	119,277.70
273	1,678.74	596.39	1,082.35	118,195.35
274	1,678.74	590.98	1,087.76	117,107.59
275	1,678.74	585.54	1,093.20	116,014.39
276	1,678.74	580.07	1,098.67	114,915.72
277	1,678.74	574.58	1,104.16	113,811.56
278	1,678.74	569.06	1,109.68	112,701.88
279	1,678.74	563.51	1,115.23	111,586.65
280	1,678.74	557.93	1,120.81	110,465.84
281	1,678.74	552.33	1,126.41	109,339.43
282	1,678.74	546.70	1,132.04	108,207.39
283	1,678.74	541.04	1,137.70	107,069.69
284	1,678.74	535.35	1,143.39	105,926.30
285	1,678.74	529.63	1,149.11	104,777.19
286	1,678.74	523.89	1,154.85	103,622.34
287	1,678.74	518.11	1,160.63	102,461.71
288	1,678.74	512.31	1,166.43	101,295.28
289	1,678.74	506.48	1,172.26	100,123.02
290	1,678.74	500.62	1,178.12	98,944.90
291	1,678.74	494.72	1,184.02	97,760.88
292	1,678.74	488.80	1,189.94	96,570.94
293	1,678.74	482.85	1,195.89	95,375.05
294	1,678.74	476.88	1,201.86	94,173.19
295	1,678.74	470.87	1,207.87	92,965.32
296	1,678.74	464.83	1,213.91	91,751.41
297	1,678.74	458.76	1,219.98	90,531.43
298	1,678.74	452.66	1,226.08	89,305.35
299	1,678.74	446.53	1,232.21	88,073.14
300	1,678.74	440.37	1,238.37	86,834.77
301	1,678.74	434.17	1,244.57	85,590.20
302	1,678.74	427.95	1,250.79	84,339.41
303	1,678.74	421.70	1,257.04	83,082.37
304	1,678.74	415.41	1,263.33	81,819.04
305	1,678.74	409.10	1,269.64	80,549.40
306	1,678.74	402.75	1,275.99	79,273.41
307	1,678.74	396.37	1,282.37	77,991.04
308	1,678.74	389.96	1,288.78	76,702.26
309	1,678.74	383.51	1,295.23	75,407.03
310	1,678.74	377.04	1,301.70	74,105.33
311	1,678.74	370.53	1,308.21	72,797.12
312	1,678.74	363.99	1,314.75	71,482.37
313	1,678.74	357.41	1,321.33	70,161.04
314	1,678.74	350.81	1,327.93	68,833.11
315	1,678.74	344.17	1,334.57	67,498.54
316	1,678.74	337.49	1,341.25	66,157.29
317	1,678.74	330.79	1,347.95	64,809.34
318	1,678.74	324.05	1,354.69	63,454.65
319	1,678.74	317.27	1,361.47	62,093.18
320	1,678.74	310.47	1,368.27	60,724.91
321	1,678.74	303.62	1,375.12	59,349.79
322	1,678.74	296.75	1,381.99	57,967.80
323	1,678.74	289.84	1,388.90	56,578.90
324	1,678.74	282.89	1,395.85	55,183.05
325	1,678.74	275.92	1,402.82	53,780.23
326	1,678.74	268.90	1,409.84	52,370.39
327	1,678.74	261.85	1,416.89	50,953.50
328	1,678.74	254.77	1,423.97	49,529.53
329	1,678.74	247.65	1,431.09	48,098.44
330	1,678.74	240.49	1,438.25	46,660.19
331	1,678.74	233.30	1,445.44	45,214.75
332	1,678.74	226.07	1,452.67	43,762.08
333	1,678.74	218.81	1,459.93	42,302.15
334	1,678.74	211.51	1,467.23	40,834.92
335	1,678.74	204.17	1,474.57	39,360.35
336	1,678.74	196.80	1,481.94	37,878.41
337	1,678.74	189.39	1,489.35	36,389.06
338	1,678.74	181.95	1,496.79	34,892.27
339	1,678.74	174.46	1,504.28	33,387.99
340	1,678.74	166.94	1,511.80	31,876.19
341	1,678.74	159.38	1,519.36	30,356.83
342	1,678.74	151.78	1,526.96	28,829.87
343	1,678.74	144.15	1,534.59	27,295.28
344	1,678.74	136.48	1,542.26	25,753.02
345	1,678.74	128.77	1,549.97	24,203.05
346	1,678.74	121.02	1,557.72	22,645.33
347	1,678.74	113.23	1,565.51	21,079.82
348	1,678.74	105.40	1,573.34	19,506.48
349	1,678.74	97.53	1,581.21	17,925.27
350	1,678.74	89.63	1,589.11	16,336.16
351	1,678.74	81.68	1,597.06	14,739.10
352	1,678.74	73.70	1,605.04	13,134.06
353	1,678.74	65.67	1,613.07	11,520.99
354	1,678.74	57.60	1,621.14	9,899.85
355	1,678.74	49.50	1,629.24	8,270.61
356	1,678.74	41.35	1,637.39	6,633.22
357	1,678.74	33.17	1,645.57	4,987.65
358	1,678.74	24.94	1,653.80	3,333.85
359	1,678.74	16.67	1,662.07	1,671.78
360	1,680.14	8.36	1,671.78	0.00

How this is calculated

Principal and interest use the standard annuity formula P × r(1 + r)^n ÷ ((1 + r)^n − 1) with r the annual rate ÷ 12 and n the number of months; the schedule rounds interest to the cent each month and clears the balance exactly with the final payment. Property tax and insurance are entered per year and divided by 12; HOA and mortgage insurance per month. Rates, taxes and insurance change over a term — this assumes they stay as entered, and does not include closing costs.

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About Mortgage Calculator

The monthly figure a lender quotes and the amount that actually leaves your account each month are rarely the same number, because the quote is principal and interest while the payment usually also carries tax and insurance. Free, and asks for no email address. Your deposit and rate are used by the browser and by nothing else.

How to use Mortgage Calculator

Enter price, deposit, rate and termThe deposit reduces the amount borrowed, which is the single largest lever on everything downstream.
Add the other costsProperty tax and insurance, where they are collected with the payment rather than billed separately.
Read both figuresPrincipal and interest on its own, and the full monthly outgoing, because budgeting needs the second.

Why the early years feel like nothing is happening

Interest is charged on the balance outstanding, which is near its maximum at the start, so the earliest payments are overwhelmingly interest and barely reduce what you owe. The crossover — where more of the payment goes to principal than to interest — arrives surprisingly late on a long term. It is also why an overpayment in year two is worth far more than the same amount in year twenty.

What it does not do

A fixed rate for the whole term is assumed. Variable and tracker products, and fixed periods that revert to a standard rate, all behave differently.
Fees rolled into the loan and early repayment charges are not modelled, and mortgage insurance (PMI) is not calculated from the loan: it is added only as the monthly amount you enter.
Arithmetic on the figures you supply, and nothing more. It has no view on affordability and no idea what any lender would put in front of you.